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$ 3,200,000
Est. payment | /mo
5,983 SqFt
$ 3,200,000
Est. payment | /mo
5,983 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,983 sqft
Price per Sqft $534
MLS Listing ID A11930621
HOA Y/N No
Year Built 1935
Annual Tax Amount $43,437
Lot Size 8,580 Sqft
Property Sub-Type Multi Family
Property Description
Noble Pine Tree Apartments is a fully renovated 12-unit boutique multifamily on prestigious Pine Tree Drive, offering modern finishes, Art Deco charm, and strong in-place income in one of Miami Beach's most desirable neighborhoods. With a proven rent roll ($291,000 gross with an NOI of about $215,350), upgraded units featuring premium kitchens, sleek baths, and in-unit laundry in most residences, the property delivers turnkey stability with rental upside. Lush outdoor spaces—hammocks, shaded seating, and café-style areas—create a tropical retreat just a 5-minute walk to the beach. Steps from the new $42.8M Bayshore Park with 19 acres of green space, tennis courts, dog park, and enhanced security, the location ensures long-term appreciation and high tenant demand. Offered at $3.8M with a ~5.8% cap rate, the asset provides rare value in a high-barrier-to-entry market and is ideal for investors seeking both steady yield and premium Miami Beach positioning.
Location
State FL
County Miami-dade
Area 32
Zoning 3900
Interior
Flooring Laminate
Exterior
Roof Type Shingle
Private Pool Yes
Building
Lot Description Flood Zone
Structure Type CBS (Concrete Block Structure),Block
Others
Tax ID 02-32-27-004-0220
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Real Estate Owned
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11930621
Listed by Compass Florida, LLC
NEARBY SCHOOL & BUSINESS
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Mel G. Byrnes
Relocation Specialist